Vietnam signs free trade deal with second largest economic partner EU

Vietnam and EU sign a landmark free trade deal reducing tariffs of 99 percent of all traded goods

Vietnam's Prime Minister Nguyen Xuan Phuc, Deputy Prime Minister Truong Hoa Binh, European Commissioner for Trade Cecilia Malmstrom and Romania's Business, Trade and Enterpreneurship Minister Stefan Radu Oprea attend the signing ceremony of EU-Vietnam Free Trade Agreement and Investment Protection Agreement at the government office in Hanoi, Vietnam June 30, 2019.

The European Union has described the EU-Vietnam Free Trade Agreement as "the most ambitious free trade deal ever concluded with a developing country".It was signed in Hanoi between European Union Trade Commissioner Cecilia Malmstrom and Vietnam’s Minister of Industry and Trade Tran Tuan Anh, three-and-a-half years after negotiations ended in December 2015.

The EU is Vietnam's second-largest export market after the United States, with main exports including garment and footwear products.

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